Mr Braunstein, an expert in biotech and pharmaceuticals companies, was co-manager of the group’s $2.3bn (£1.3bn) Global Healthcare fund, which has enjoyed major success since being established in October 2009.
Since its formation, the fund has returned 148.5 per cent, performing significantly better than its benchmark MSCI World Healthcare index, which has returned 109 per cent in the same period, according to data from FE Analytics.
The fund’s other manager, Anne Marden, has taken over as lead portfolio manager for the fund and Premal Pajwani has been appointed as alternate portfolio manager.
In a statement, JPMorgan Asset Management said: “There will be no change in investment process or approach. Premal is a global healthcare specialist in the global equities team with more than 20 years’ industry experience.”
The Luxembourg-based Sicav fund was created when JPMorgan merged its Global Healthtech and Global Life Sciences funds in 2009 into a broader mandate covering the whole healthcare sector.
The group added that the fund is driven by a “team-based approach” and that it has one of the “strongest teams of healthcare specialists” across the global industry.
Elsewhere, Mr Braunstein played a key role on JPMorgan’s US equity analyst team. The group said it had begun searching for a replacement for the role.
It added that Dr Allison Yang will take over Mr Braunstein’s sector coverage on an interim basis.
